OK, I have to brag a little about this. I previously had an incredible mess in this closet, with fabric spilling everywhere on the floor, and supplies stuffed in so many places that I'd often buy something and realize later that I already had it. Time for organization! My daughter suggested this strategy of clear bins with labels, and it works really well. I've also got some very large bins in another storage area for those things that take up more room.
My next step in my organizing mission will be to organize my scraps so they are more usable. There is a great scrap organizing system that describes how to cut all scraps into standard, usable pieces and organize them by size. It makes perfect sense, and as the site mentions, those scraps may have cost you something like $9/yard, so you want to make them usable!
I have been quilting, sewing, knitting, weaving, and dabbling in various other fiber arts, photography, and occasionally painting for much of my life. . . well, the painting part mostly consists of staring at the same partially-completed canvas for the last few years, but I do make up for that with my fabric frenzies. I love working with natural fibers and fabrics, and I bounce happily back and forth between modern and traditional quilting.